415 SE 3rd Ave - Apartments FOR SALE


Hallandale Beach, FL 33009
$3,050,000 USD
954-245-3459
415 SE 3rd Ave, Hallandale Beach, FL for Sale
$3,050,000 USD
Apartments - FOR SALE
1/12
null | 6.2% Cap Rate

415 SE 3rd Ave
Hallandale Beach, FL 33009


HIGHLIGHTS

  • Over $1.1 million in interior and exterior renovations
  • Four contiguous and separately parceled buildings
  • .41-acre site zoned RAC-TC allowing for 21 units (with potential for increasing)
  • Fully gated community with large courtyards
  • Peter Bluesten Park, YMCA, and City Hall directly across the street
  • Hurricane impact windows and exterior doors, Onsite laundry facility and 18 off-street parking spaces

OVERVIEW

Marcus & Millichap, as exclusive listing agent is excited to bring to market Parkview at Gulfstream, a 10-unit, boutique apartment community located in the most sought-after submarket in the city of Hallandale Beach, Florida. The property is situated four blocks south of Hallandale Beach Boulevard and just one block west of Federal Highway (US 1) and Gulfstream Park, and directly across the street from Peter Bluesten Park, the Hallandale Beach YMCA Family Center, City Hall, the Police Department, all the City Government Offices, and the US Postal Service. Furthermore, HCA Florida Aventura Hospital, Publix Supermarket and Whole Foods Market are all within just a few blocks. The property consists of four separately parceled and contiguous, one and two-story buildings on a .42-acre site. The land is zoned RAC-TC which allows for the development of 21 units. There are currently two developments within a few blocks that are approved for 128 units per acre, which would equate to 52 units on the subject site. Furthermore, the sale of the property includes architectural plans for the addition of a second floor with two additional apartments at 311 SE 5th Street. Parkview at Gulfstream was acquired by the current owner four years ago and went through an extensive interior and exterior renovation, including but not limited to all new roofs and mansards, parking lots, hurricane impact windows and doors, new air-conditioning systems and hot-water heaters, interior, exterior, and underground plumbing and electrical, railings, exterior perimeter fencing, landscaping, and high-end apartment interior upgrades, all totaling over $1.1 million.

FOR SALE DETAILS

PRICE

$3,050,000 USD

PRICE/SF

$321 USD /SF

# OF UNITS

10

PRICE/UNIT

$305,000

CAP RATE

6.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parkview at Gulfstream

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

RAC-TC

APN/PARCEL ID

51-42-27-16-0660

ASK ABOUT THIS PROPERTY

Evan KristolMarcus & MillichapMore Info
954-245-3459

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Evan KristolMarcus & MillichapMore Info
954-245-3459

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.